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What's stopping them from charging the people responsible? Are the people so irreplaceable that they are effectively JPM?
by maxwelldone 5y ago
What's stopping them from charging the people responsible? Are the people so irreplaceable that they are effectively JPM?
- fnordfnordfnord 5y agoThey are not irreplaceable but it would create the sort of inverse "moral hazard" that might stop these practices, which are apparently what's being protected.
- civilized 5y agoHard to imagine that the Chief Financial Spreadsheet Monkey is irreplaceable. If you want someone irreplaceable, I'd look at the COBOL programmers.
- andylei 5y agothey did charge them: https://www.cftc.gov/PressRoom/PressReleases/8013-19 https://www.cftc.gov/PressRoom/PressReleases/8013-19
- tedivm 5y agoThe revolving door between the financial sector and our government- if they jailed people now then when it's their turn to get rich off of their government connections they might risk jail.
- spaetzleesser 5y agoIt’s bad for campaign donations and bad for future highly paid job prospects in the financial industry. So politicians and agency workers have strong incentives to not be too tough on banks.